MCX Crude Oil is likely to trade with negative bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.52800 - 52600 levels whereas resistance is at Rs.53300 - 53500 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61600 - 61200 levels whereas resistance is at Rs.62400 - 62800 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6840 - 6740 levels whereas resistance is at Rs. 7060 - 7160 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.686 - 682 levels whereas resistance is at Rs.695 - 699 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 686 – 682 level and resistance at 695 - 699. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 686 – 682 levels on lower side.
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